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Trump will host two encryption-themed dinners in May, raising potential conflict of interest controversies.
Odaily News The American president Trump has recently fallen into a public opinion storm due to encryption-related activities. It has been disclosed that Trump plans to hold two encryption-themed events in May: a dinner for the top 25 holders of the TRUMP memecoin on May 22, and a dinner for encryption and AI innovators organized by MAGA Inc.'s Super PAC, with a price per seat starting at 1.5 million dollars. This has raised concerns from several politicians, including Senator Elizabeth Warren, who believe that this move may involve a quid pro quo exchange of presidential privileges for business investments. On-chain data shows that 80% of the supply of the TRUMP token is controlled by the Trump Group, which has transferred approximately $325 million to internal wallets through built-in mechanisms since its launch in January. Although industry lawyer Olta Andoni believes this token is no different from other memecoins, Wormhole legal advisor Cathy Yoon points out that this raises serious ethical concerns. Trump emphasized in response to questions that he did not profit from it and views the encryption industry as a strategic area of competition between China and the United States. The price of TRUMP token surged by 50% after the dinner news was announced, but Trump claimed to have no concept of its valuation. (The Block)